Broadcom Inc. (NASDAQ:AVGO) Shares Bought by GoalVest Advisory LLC

GoalVest Advisory LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 956.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,098 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,858 shares during the period. Broadcom makes up about 0.6% of GoalVest Advisory LLC’s holdings, making the stock its 25th largest holding. GoalVest Advisory LLC’s holdings in Broadcom were worth $2,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Lion Street Advisors LLC raised its stake in Broadcom by 1.9% in the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares in the last quarter. Optimum Investment Advisors raised its stake in Broadcom by 0.6% in the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock valued at $2,262,000 after buying an additional 8 shares in the last quarter. Anderson Hoagland & Co. raised its stake in Broadcom by 0.3% in the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock valued at $4,623,000 after buying an additional 9 shares in the last quarter. Wealth Group Ltd raised its stake in Broadcom by 6.0% in the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock valued at $283,000 after buying an additional 10 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in Broadcom by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. William Blair assumed coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Truist Financial raised their price target on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $165.35 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The firm has a market capitalization of $772.28 billion, a P/E ratio of 143.78, a PEG ratio of 1.94 and a beta of 1.17. The company’s fifty day moving average is $173.68 and its two-hundred day moving average is $159.82.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue was up 47.3% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.